US LAWS, STATUTES & CODES ON-LINE

US Supreme Court Decisions On-Line | US Laws



§ 1007. —  Readjustment of lease terms and conditions.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 30USC1007]

 
                   TITLE 30--MINERAL LANDS AND MINING
 
    CHAPTER 23--GEOTHERMAL STEAM AND ASSOCIATED GEOTHERMAL RESOURCES
 
Sec. 1007. Readjustment of lease terms and conditions


(a) Initial readjustment; periodic intervals; notice; objections, 
        relinquishment, and termination

    The Secretary may readjust the terms and conditions, except as 
otherwise provided herein, of any geothermal lease issued under this 
chapter at not less than ten-year intervals beginning ten years after 
the date the geothermal steam is produced, as determined by the 
Secretary. Each geothermal lease issued under this chapter shall provide 
for such readjustment. The Secretary shall give notice of any proposed 
readjustment of terms and conditions, and, unless the lessee files with 
the Secretary objection to the proposed terms or relinquishes the lease 
within thirty days after receipt of such notice, the lessee shall 
conclusively be deemed to have agreed with such terms and conditions. If 
the lessee files objections, and no agreement can be reached between the 
Secretary and the lessee within a period of not less than sixty days, 
the lease may be terminated by either party.

(b) Rentals and royalties; initial readjustment; periodic intervals; 
        limitation on increases and on royalties; notice; objections, 
        relinquishment, and termination

    The Secretary may readjust the rentals and royalties of any 
geothermal lease issued under this chapter at not less than twenty-year 
intervals beginning thirty-five years after the date geothermal steam is 
produced, as determined by the Secretary. In the event of any such 
readjustment neither the rental nor royalty may be increased by more 
than 50 per centum over the rental or royalty paid during the preceding 
period, and in no event shall the royalty payable exceed 22\1/2\ per 
centum. Each geothermal lease issue \1\ under this chapter shall provide 
for such readjustment. The Secretary shall give notice of any proposed 
readjustment of rentals and royalties, and, unless the lessee files with 
the Secretary objection to the proposed rentals and royalties or 
relinquishes the lease within thirty days after receipt of such notice, 
the lessee shall conclusively be deemed to have agreed with such terms 
and conditions. If the lessee files objections, and no agreement can be 
reached between the Secretary and the lessee within a period of not less 
than sixty days, the lease may be terminated by either party.
---------------------------------------------------------------------------
    \1\ So in original. Probably should be ``issued''.
---------------------------------------------------------------------------

(c) Surface use, protection, or restoration of lands withdrawn or 
        acquired for Federal agency; notice; approval of agency

    Any readjustment of the terms and conditions as to use, protection, 
or restoration of the surface of any lease of lands withdrawn or 
acquired in aid of a function of a Federal department or agency other 
than the Department of the Interior may be made only upon notice to, and 
with the approval of, such department or agency.

(Pub. L. 91-581, Sec. 8, Dec. 24, 1970, 84 Stat. 1569.)



chanrobles.com.Com


ChanRobles Legal Resources:

ChanRobles On-Line Bar Review

ChanRobles Internet Bar Review : www.chanroblesbar.com

ChanRobles MCLE On-line

ChanRobles Lawnet Inc. - ChanRobles MCLE On-line : www.chanroblesmcleonline.com